2010 East South Central Regional Forecast

East South Central Regional Forecast

Alabama • Kentucky • Mississippi • Tennessee

The Gulf Coast showed its grit in its efforts to recover from hurricanes Katrina and Rita, but the recession that hit the region three years later knocked some parts of Alabama, Kentucky, Mississippi and Tennessee right down again. As a whole, the region currently has a 10.6 percent unemployment rate, and the cities in the region that generally speaking have the most robust and diversified economies — Birmingham, Ala., and Memphis and Nashville, Tenn. — have all been singing the unemployment blues. The one somewhat bright spot in the region may be Mississippi, which Moody's/economy.com says is already in recovery mode. However, its analysis offered faint praise: “The labor market stabilized in the first half of the year, but persistent weakness in gaming provides risk for further deterioration.” One hospital project in Alabama did make McGraw-Hill Construction's listing of the largest construction projects: the $300 million job that broke ground in July 2009 at the Benjamin Russell Hospital for Children in Birmingham.

Metro Div. — Metropolitan Division NECTA — New England city and town area NA — Not available

Electrician employment for May 2008 Source: U.S. Bureau of Labor Statistics.

M — Manufacturing employees for July 2009. Source: Current Employment Statistics from the Bureau of Labor Statistics

C — Commercial account employees (professional and business services, retail trade, financial activities, educational and health services, leisure and hospitality, and other services) for July 2009. Source: Current Employment Statistics from the Bureau of Labor Statistics

G — Government employees for July 2009. Source: Current Employment Statistics from the Bureau of Labor Statistics